Europe should not set a cap on gas prices, Norway's prime minister says

Jonas Gahr Støre said Europe should avoid capping natural gas prices despite a sharp rise linked to Middle East tensions. He added that Norway will continue to supply reliable energy to the continent.

Reuters

March 12, 2026

Europe should not set a cap on gas prices, Norway's prime minister says

Norwegian Prime Minister Jonas Gahr Stoere attends a joint press conference with Ukrainian President Volodymyr Zelenskiy, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 25, 2026.

Alina Smutko/Reuters

Norway's Prime Minister Jonas Gahr Stoere said on Thursday that it would be unwise for Europe to cap the price of natural gas, which has risen some 60% in the wake of the U.S.-Israeli war on Iran.

He said Norway, Europe's biggest supplier of gas, would remain a reliable provider of energy to the continent.

Europe refrained from capping gas costs during a surge in prices following Russia's 2022 full-scale invasion of Ukraine, and Norway will continue to argue against such a cap, Stoere told an energy conference in Oslo.

-Reporting by Nora Buli, editing by Terje Solsvik/Reuters